The crypto price chart, on Thursday, December 8, was drenched in reds after more cryptocurrencies saw losses. Bitcoin value dropped by 1.37 percent as per Gadgets 360’s crypto price tracker. On international exchanges like Binance and Coinbase as well, the digital asset slipped by the same margin. Overall, Bitcoin’s current trading value stands at $16,825 (roughly Rs. 13.8 lakh). A day ago, BTC prices were higher by $163 (roughly Rs. 13,425). For weeks, BTC has been showing only a range-bound movement and experts do not see any sudden changes in its trajectory anytime soon.
Ether, trailed behind Bitcoin to see a slightly bigger value dip of 2.50 percent. At present, ETH is trading at $1,231 (roughly Rs. 1.01 lakh), as per the Gadgets 360’s tracker.
Tether, Binance Coin, USD Coin, Cardano, Polygon, and Polkadot — all opened with price dips.
Dogecoin and Shiba Inu slipped down the price ladder along with Solana, Tron, Uniswap, and Avalanche.
The overall crypto market fell by 1.45 percent in the last 24 hours. At present, the global market valuation stands at $842.26 billion (roughly Rs. 69,37,180 crore).
Meanwhile, only a small number of altcoins managed to see marginal profits today.
These include Binance USD, Ripple, EOS Coin, Dash, and Flex.
In the backdrop of constant market dips, crypto players are trying to attract the trust of investors to fetch back funds into the digital assets sector.
Binance, on December 7, published the first factual findings report outlining the status of its proof-of-reserves. The aim is to ensure its users that the exchange will be able to handle mass-withdrawals case of an emergency.
Following the collapse of the FTX crypto exchange, Goldman Sachs has decided to buy and invest in crypto firms that have been impacted by the market volatility.
The eventual intension is to help distressed firms get back on their feet and to have investors re-enter the trading arena.
Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.
